Bitmain Launches Siacoin Miner

Bitmain – the company known for it’s family of ASIC miners – surprised us on Monday with the release of the Antminer A3 designed to specifically mine Siacoin – the coin designed for decentralized cloud storage service of the same name. Unlike previous Antminer releases, shipping is expected within 10 days in comparison to the 3 months+ of their other ASICs.

But, what can this miner do?

Well it’s total hashrate is around 815GH/s (+/-5%), which with today’s Siacoin difficulty (which is bound to soar after ASIC mining commences) would earn you around $400-$500 a DAY. That won’t last for long though, and everyone will be racing to begin mining as soon as possible in order to take advantage of this.

In terms of cost, the Antminer A3 will set you back $2375, but if that’s a bit steep for you I would recommend buying a few Sia (price at writing is $0.0397).

In comparison to all the other coins that have had ASIC’s introduced I would be very surprised if the price of Siacoin wasn’t to rise as the currency becomes more valuable.

Obviously this announcement hasn’t been met without controversy (see here), but in general, should be seen as a positive move for the Sia community. Sia hasn’t really gone as mainstream as I think the developers might have hoped. Whether Sia will actually be used for storage purposes or just as a trading asset is yet to be known. Rest assured we’ll be keeping a close eye on things!

*Disclaimer – Cryptosphere.world’s analysis and predictions are purely speculation based on current market trends. Do NOT purely rely on us when making investments. We do not accept responsibility for any money lost following our recommendations!